Sovereign Rating: Mauritius Ends Contract with S&P Global Ratings

S&P Global Ratings announced this week the withdrawal of its sovereign ratings of 'BBB-' (long-term) and 'A-3' (short-term) for Mauritius, at the request of the Mauritian authorities. "At the time of the withdrawal, the outlook remained stable," the rating agency stated in a press release issued on Wednesday, March 18, in Paris.

In response, Dhaneshwar Damry, Junior Minister of Finance, reminded that the Bank of Mauritius signed a contract with S&P for the country's sovereign rating in February 2023. "S&P published its first rating on July 21, 2023, and the most recent one dated October 27, 2025. All previous ratings from S&P maintained Mauritius at 'Investment Grade', with the last rating being BBB-/A-3 with a stable outlook," Dhaneshwar Damry stated to Défi Plus. On March 5, 2026, he noted, the Bank of Mauritius informed S&P of its decision not to renew the partnership, a decision that the rating agency acknowledged and formalized on its website on March 18.